Prepare the journal entries to record the following transactions on Crane Companys books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

(a)		On March 2, Crane Company sold $889,700 of merchandise to Sheridan Company, terms 3/10, n/30. The cost of the merchandise sold was $586,400.
(b)		On March 6, Sheridan Company returned $117,700 of the merchandise purchased on March 2. The cost of the merchandise returned was $63,800.
(c)		On March 12, Crane Company received the balance due from Sheridan Company.

No.	Date	Account Titles and Explanation	Debit	Credit
(a)	Choose a transaction date March 2March 6March 12	Enter an account title to record sale of merchandise	Enter a debit amount	Enter a credit amount
		Enter an account title to record sale of merchandise	Enter a debit amount	Enter a credit amount
		(To record sale of merchandise)
	Choose a transaction date March 2March 6March 12	Enter an account title to record cost of merchandise sold	Enter a debit amount	Enter a credit amount
		Enter an account title to record cost of merchandise sold	Enter a debit amount	Enter a credit amount
(b)	Choose a transaction date March 2March 6March 12	Enter an account title to record return of merchandise	Enter a debit amount	Enter a credit amount
		Enter an account title to record return of merchandise	Enter a debit amount	Enter a credit amount
		(To record return of merchandise)
	Choose a transaction date March 2March 6March 12	Enter an account title to record cost of merchandise returned	Enter a debit amount	Enter a credit amount
		Enter an account title to record cost of merchandise returned	Enter a debit amount	Enter a credit amount
(c)	March 12	Enter an account title to record the balance due received	Enter a debit amount	Enter a credit amount
		Enter an account title to record the balance due received	Enter a debit amount	Enter a credit amount
		Enter an account title to record the balance due received	Enter a debit amount	Enter a credit amount